Updated 28-Jun-2024
> Updated July 2019 - I no longer use Paypal, as it is roughly twice as expensive as Stripe when looking at $100 USD/month in transactions (more than 10% with transaction fees and currency conversion), and without currency conversion it is still 30% more when only looking at transaction fees (usually because of the international transaction fees which are higher). If one is not a US national or without a US company, then use Stripe Atlas to incorporate and get banking set up.
There are several areas within the Paypal site and Woocommerce settings tabs that need to be configured to get everything working properly, including auto-return, IPN notifications, etc.